{"id":325,"date":"2022-09-21T04:00:00","date_gmt":"2022-09-21T04:00:00","guid":{"rendered":"https:\/\/craftco.wpenginepowered.com\/craft-launches-5-new-products-to-level-up-your-supplier-intelligence-efforts\/"},"modified":"2023-12-06T22:21:12","modified_gmt":"2023-12-06T22:21:12","slug":"craft-launches-5-new-products-to-level-up-your-supplier-intelligence-efforts","status":"publish","type":"press","link":"https:\/\/global.craft.co\/newsroom\/craft-launches-5-new-products-to-level-up-your-supplier-intelligence-efforts\/","title":{"rendered":"Craft Launches 5 New Products to Level Up Your Supplier Intelligence Efforts"},"content":{"rendered":"<p id=\"\">Global supply chains have faced extensive challenges over the past two years, tackling everything from labor shortages and cybersecurity threats, to pandemics, natural disasters, and geopolitical disruption.&nbsp;<\/p>\n<p>These events have led to a fundamental shift in how supply chain teams define and measure risk. In today&#8217;s complex and volatile environment, organizations must move away from operation models designed solely for efficiency and cost and begin accounting for risk exposure.&nbsp;&nbsp;<\/p>\n<p>This means investing in stronger supplier intelligence solutions that increase transparency along the entire value chain.&nbsp;<\/p>\n<p>That&#8217;s where Craft comes in.&nbsp; In addition to a robust supplier intelligence platform, Craft is excited to announce several new product launches that will:<\/p>\n<ul id=\"\">\n<li id=\"\">Improve supplier discovery and evaluation&nbsp;<\/li>\n<li id=\"\">Better contextualize the overall health of your entire supplier network<\/li>\n<li id=\"\">Improve collaboration, action, and contingency planning with internal teams and stakeholders<\/li>\n<li id=\"\">Improve supplier monitoring so you know exactly when you should take action<\/li>\n<\/ul>\n<p id=\"\">\n<h2 id=\"\">Discover and Evaluate&nbsp;<\/h2>\n<p id=\"\">Researching suppliers is typically manual and tedious. In fact, it takes an <a href=\"https:\/\/www.mckinsey.com\/capabilities\/operations\/our-insights\/with-artificial-intelligence-find-new-suppliers-in-days-not-months\" id=\"\">average of three months<\/a> for sourcing professionals to complete a single supplier search-costing valuable time and limiting the scope of suppliers organizations can review.&nbsp;<\/p>\n<p>But what if you could search thousands of global suppliers in days? With Craft&#8217;s improved Discover and Evaluate feature, you can.<\/p>\n<p>Explore new or alternative suppliers using Craft&#8217;s robust database of company profiles and advanced search capabilities:<\/p>\n<ul id=\"\">\n<li id=\"\">Evaluate suppliers against competitors along 500+ data points, and even compare them side-by-side.&nbsp;<\/li>\n<li id=\"\">Organize hundreds or thousands of suppliers into portfolios based on select criteria to maintain seamless, efficient workflows.<\/li>\n<li id=\"\">Enhance visibility into corporate hierarchies and ultimate beneficial owners (UBO) to improve and accelerate due diligence processes. <\/li>\n<\/ul>\n<p id=\"\">\n<h2 id=\"\">Craft Risk Hub&nbsp;<\/h2>\n<p id=\"\">Understand the overall health of your entire supplier network and determine where the highest risks exist with Craft&#8217;s Risk Hub.&nbsp;<\/p>\n<p>Risk Hub uses machine learning to comb Craft&#8217;s supplier data ecosystem and compile key risk metrics for evaluation.&nbsp;<\/p>\n<p>With Risk Hub, you can&nbsp;<\/p>\n<ul id=\"\">\n<li id=\"\">Surface deeper insights into how suppliers perform against <a href=\"https:\/\/enterprise.craft.co\/post\/craft-industry-report-cybersecurity-scores-analysis-by-industry\" id=\"\">key industry benchmarks<\/a>.<\/li>\n<li id=\"\">Get notified when suppliers experience significant changes in key risk categories, like ESG or cybersecurity.<\/li>\n<li id=\"\">Filter your view and focus on the metrics that are most important to you, whether that&#8217;s risk broken down by sector, portfolio, or risk category.<\/li>\n<\/ul>\n<p id=\"\">Risk Hub makes it easy to quickly measure, review, and analyze your risk landscape so you can uncover exposures and identify new opportunities.&nbsp;&nbsp;<\/p>\n<figure class=\"w-richtext-figure-type-image w-richtext-align-fullwidth\" style=\"max-width:2717px\" data-rt-type=\"image\" data-rt-align=\"fullwidth\" data-rt-max-width=\"2717px\">\n<div><img decoding=\"async\" src=\"https:\/\/uploads-ssl.webflow.com\/5e3d65bca5399c2289ec82c2\/63d84057894ec41529f9a5de_ProductArticleRiskhub_Revised.png\" loading=\"lazy\"><\/div>\n<\/figure>\n<p id=\"\">\n<h2 id=\"\">Craft Workspace&nbsp;<\/h2>\n<p id=\"\">Clear communication channels are essential to contingency planning and <a href=\"https:\/\/enterprise.craft.co\/post\/key-lessons-to-learn-from-5-supply-chain-disasters\" id=\"\">timely threat response<\/a> in supply chain management. When something goes wrong, organizations must move quickly to notify decision-makers and execute plans seamlessly to minimize disruption and impact.&nbsp;&nbsp;<\/p>\n<p>Reduce time-to-action and<strong id=\"\"> <\/strong>collaborate with colleagues to respond to changes to a supplier&#8217;s risk profile with Craft Workspace.<\/p>\n<p>Craft Workspace enhances communication in-platform, so everyone is on the same page.&nbsp;<\/p>\n<ul id=\"\">\n<li id=\"\">Tag colleagues directly in a note on a company profile, or portfolio.<\/li>\n<li id=\"\">Quickly notify other users of significant shifts in supplier data points.<\/li>\n<li id=\"\">Start a thread for any conversation that requires a back-and-forth.<\/li>\n<li id=\"\">Upload first-party data and unify disparate data sources into a single view.\n<\/li>\n<\/ul>\n<figure id=\"\" class=\"w-richtext-figure-type-image w-richtext-align-fullwidth\" style=\"max-width:2269px\" data-rt-type=\"image\" data-rt-align=\"fullwidth\" data-rt-max-width=\"2269px\">\n<div id=\"\"><img decoding=\"async\" src=\"https:\/\/uploads-ssl.webflow.com\/5e3d65bca5399c2289ec82c2\/63d83394ba27e77fc0cd2591_WorkspaceActivity.png\" loading=\"lazy\" id=\"\" width=\"auto\" height=\"auto\"><\/div>\n<\/figure>\n<h2 id=\"\">Craft Alerts&nbsp;<\/h2>\n<p id=\"\">Supply chains are longer and more complex than ever before. This means it&#8217;s no longer possible to keep pace with the speed of business through manual monitoring and review. Instead, companies must take a proactive approach to supply chain monitoring and management.&nbsp;&nbsp;<\/p>\n<p>We&#8217;ve updated Craft Alerts to bring you more insights faster so you can take action right away.<\/p>\n<p>Stay up-to-date on crucial changes to suppliers through real-time monitoring and alerts across multiple risk categories, including cyber, financial, and ESG.&nbsp;<\/p>\n<p id=\"\">\n<p id=\"\">Craft Alerts:&nbsp;<\/p>\n<ul id=\"\">\n<li id=\"\">Delivers curated, news-based notifications via email, API, or Craft Platform<em id=\"\"> <\/em>that are extracted, categorized, and validated from over 200k news sources.&nbsp;<\/li>\n<li id=\"\">Automatically flags significant changes to a supplier&#8217;s key risk scores and metrics to enable more proactive risk monitoring.&nbsp;<\/li>\n<li id=\"\">Contextualizes supplier data and illuminates trends through a structured alerts timeline to empower informed decisions.&nbsp;\n<\/li>\n<\/ul>\n<figure id=\"\" class=\"w-richtext-figure-type-image w-richtext-align-fullwidth\" style=\"max-width:2916px\" data-rt-type=\"image\" data-rt-align=\"fullwidth\" data-rt-max-width=\"2916px\">\n<div id=\"\"><img decoding=\"async\" src=\"https:\/\/uploads-ssl.webflow.com\/5e3d65bca5399c2289ec82c2\/63d833b3402eb05ff0e3e560_Alerts.png\" loading=\"lazy\" id=\"\" width=\"auto\" height=\"auto\"><\/div>\n<\/figure>\n<h2 id=\"\">Craft N-Tier Mapping (BETA)&nbsp;<\/h2>\n<p id=\"\">N-tier analysis helps organizations understand who their suppliers&#8217; suppliers are. This is critical to building a holistic picture of the value chain and its potential vulnerabilities, as well as supporting procurement efforts and supplier research.&nbsp;<\/p>\n<p>But without reliable supplier intelligence, conducting a thorough n-tier analysis is a challenge.&nbsp;<\/p>\n<p>That&#8217;s why Craft is launching a new N-Tier Mapping product.&nbsp;<\/p>\n<ul id=\"\">\n<li id=\"\">Identify Tier 1, Tier 2, and Tier 3 suppliers to inform supplier negotiations and support due diligence.<\/li>\n<li id=\"\">Visualize your supplier network in real time, so you&#8217;re always working with updated data.<\/li>\n<\/ul>\n<p id=\"\">Craft N-Tier Mapping illuminates your extended supply chain. With enhanced visibility into entire supplier networks, you can better understand key dependency points and risk areas, such as single-source suppliers. This also sheds light on areas where users may have a false perception of diversification. With better insight into the extended supplier network, you can mitigate risks, plan ahead, and take action faster.&nbsp;&nbsp;<\/p>\n<figure id=\"\" class=\"w-richtext-figure-type-image w-richtext-align-fullwidth\" style=\"max-width:2966px\" data-rt-type=\"image\" data-rt-align=\"fullwidth\" data-rt-max-width=\"2966px\">\n<div id=\"\"><img decoding=\"async\" src=\"https:\/\/uploads-ssl.webflow.com\/5e3d65bca5399c2289ec82c2\/63d833cc4d9ead4fc4f4396c_NTierMapping.png\" loading=\"lazy\" id=\"\" width=\"auto\" height=\"auto\"><\/div>\n<\/figure>\n<p id=\"\">\n","protected":false},"author":1,"featured_media":326,"template":"","class_list":["post-325","press","type-press","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.3 (Yoast SEO v25.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Craft Launches 5 New Products to Level Up Your Supplier Intelligence Efforts - Craft.co<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/global.craft.co\/newsroom\/craft-launches-5-new-products-to-level-up-your-supplier-intelligence-efforts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Craft Launches 5 New Products to Level Up Your Supplier Intelligence Efforts\" \/>\n<meta property=\"og:description\" content=\"Global supply chains have faced extensive challenges over the past two years, tackling everything from labor shortages and cybersecurity threats, to pandemics, natural disasters, and geopolitical disruption.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/global.craft.co\/newsroom\/craft-launches-5-new-products-to-level-up-your-supplier-intelligence-efforts\/\" \/>\n<meta property=\"og:site_name\" content=\"Craft.co\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/craftdotco\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-06T22:21:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/global.craft.co\/wp-content\/uploads\/2023\/11\/63d8334c8fe3944a7686e303_HeaderImage_new.png\" \/>\n\t<meta property=\"og:image:width\" content=\"4012\" \/>\n\t<meta property=\"og:image:height\" content=\"1764\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@craftdotco\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/global.craft.co\/newsroom\/craft-launches-5-new-products-to-level-up-your-supplier-intelligence-efforts\/\",\"url\":\"https:\/\/global.craft.co\/newsroom\/craft-launches-5-new-products-to-level-up-your-supplier-intelligence-efforts\/\",\"name\":\"Craft Launches 5 New Products to Level Up Your Supplier Intelligence Efforts - 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